Key Points
Record wheat production of 1,132 LMT signals strong agricultural performance
Stock limit controls implemented to prevent hoarding
Farm area under rabi crops expanded to 661.03 lakh hectares
Food inflation expected to ease in coming months
In order to manage the overall food security and to prevent hoarding and unscrupulous speculation, the Centre imposed stock limits on wheat applicable to traders/wholesalers, retailers, big chain retailers and processors in all states and union territories.
The removal of licensing requirements, stock limits and movement restrictions on specified foodstuffs (Amendment) Order, 2024 was issued on June 24, 2024 and revised on September 9, 2024 and on December 11, 2024 and was applicable for all states and union territories.
As part of continuous efforts to moderate prices of wheat, the Central government decided to revise the wheat stock limit applicable until March 31, 2025.
“All wheat stocking entities are required to register on the wheat stock limit portal and update the stock position on every Friday. Any entity which is found to have not registered on the portal or violates the stock limits will be subject to suitable punitive action under Section 6 & 7 of Essential Commodities Act, 1955,” said the Ministry of Consumer Affairs, Food and Public Distribution.
In case the stocks held by above entities are higher than the above prescribed limit, they will have to bring the same to the prescribed stock limits within 15 days of issue of the notification.
The Department of Food and Public Distribution is maintaining a close watch over the stock position of Wheat to control prices and ensure easy availability in the country.
Meanwhile, the total farm area sown in the country under various rabi crops in the ongoing season so far crossed 661.03 lakh hectares up from 651.42 lakh hectares in the same period of the previous year, the government said earlier this month.
The area sown under wheat has shot up to 324.38 lakh hectares (ha) from 318.33 lakh ha during the corresponding period of last year which is expected to result in higher production of the cereal for the season.
Looking ahead, food inflation is expected to ease while the growth outlook for the economy is “cautiously optimistic” for the coming months as the agricultural sector is likely to benefit from favourable monsoon conditions, increased minimum support prices and adequate supply of inputs.
—IANS
